Addressing a conclave of bankers and a credit awareness program in Kohima, the finance minister also stressed the need to ensure access to banks across the state through RRBs, PSBs and banks from the private sector.
Fiscal decentralization to Nagaland increased to Rs 13,782 crore under the NDA government, she added, compared to Rs 3,844 crore under the previous UPA regime.
Subsidies for Nagaland in 2022-23 were Rs 4,773 crore.
The central government has so far released Rs 245 crore for Kohima, the only city in Nagaland selected for the Smart Cities Mission (SCM).
Sitharaman also asked banks to conduct loan programs in Nagaland.
During the three-day conclave, Sitharaman also highlighted the important role played by “Bank Mitras” in a state like Nagaland where even a headquarters becomes hard to reach for the villagers, and expressed his joy that Bank Mitras serves its purpose well in the state.
The Finance Minister praised Nagaland for its good results in schemes like Atal Pension Yojana, MUDRA and Standup India.
Sitharaman has set a target for the outreach program to start on September 1 and end on November 30, covering all beneficiaries eligible to avail the benefits of the credit schemes.
Thanking Sitharaman for initiating and organizing the credit awareness program and launching a set of initiatives that will see Nagaland achieve 100% financial inclusion, Chief Minister Neiphiu Rio said that through this credit awareness, banks will provide credit of Rs 223 crore under various schemes as well as retail loans to the people of Nagaland.